BUSH BROS. & CO. v. COMMISSIONER

Docket No. 808-76.

73 T.C. 424 (1979)

BUSH BROTHERS & COMPANY, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed December 5, 1979.


Attorney(s) appearing for the Case

W. W. Davis and W. W. Davis, Jr., for the petitioner.

Robert B. Nadler, for the respondent.


BRUCE, Judge:

Respondent determined deficiencies in the petitioner's Federal income taxes for the fiscal years ending (FYE) April 30, 1972, and April 30, 1974, in the amounts of $30,012.24 and $396,337.66, respectively, as set forth in his statutory notice of deficiency dated November 4, 1975. Presented for our decision are (1) whether a sale by petitioner's shareholders of a dividend in kind of navy beans by petitioner will be imputed to petitioner, (2) whether...

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